From GlobeNewswire:

QPR Software Plc’s Financial Statement Bulletin for 2023 shows significant growth in SaaS net sales by 36% and software business by 8%. Despite an overall decrease in net sales by 3%, EBITDA and cash flow turned positive, showing a significant improvement. The company has adjusted its strategy to focus on core business.

During October-December 2023, SaaS net sales increased by 21%, but overall net sales decreased by 25%. EBITDA improved, operating profit was in the negative, and cash flow from operations increased to EUR 829 thousand. The financial year 2024 is expected to see significant growth in SaaS net sales and improve the company’s overall operating result.

In 2023, QPR Software focused on its core business, resulting in a decrease of 3% in net sales. Despite this, the company saw a significant improvement in EBITDA and operating profit, which was -813 thousand euros. The company expects SaaS net sales to grow double-digit in 2024, with a corresponding improvement in overall software net sales.

QPR Software Plc’s CEO, Heikki Veijola, acknowledges 2023 as a turning point for the company, achieving significant results in profitability, cost structure, and organizational strategy. QPR has refocused its strategy on its core business as a software and SaaS provider, offering customized consulting services. The company anticipates a significant improvement in operating results for 2024.

QPR Software Plc is a leading player in Digital Twin of an Organization (DTO) technology, offering software for analyzing, monitoring, and modeling organizational operations. Named a visionary in the 2023 Magic Quadrant™ for Process Mining Tools study by Gartner, QPR received a research grant from Business Finland and positioned itself as a leading DTO technology provider. The company is confident in a positive outlook for 2024 based on its market positioning and strategic initiatives.



Read more: QPR Software Plc’s Financial Statements Bulletin: